Month: September 2018

Brexit is always in the headlines and no wonder as we are on course to leave the EU on 29th March 2019. One of the big issues of the Referendum and the exit negotiations is immigration. Many businesses and organisations have employees from across the EU and around the world that they simply can’t afford to lose because they need them to provide their products and services and to grow. Therefore, the new rules that the UK adopts for immigration need to be carefully sculpted.

The CBI has published a report based upon evidence from 129,000 firms across 18 industry sectors. It hopes their recommendations will lead to a new approach to immigration that can be open enough for the UK economy to grow but with sufficient controls in place to build public trust and confidence in the immigration system.

Build public trust by shifting away from controlling numbers to assessing contribution and investing in local public services where demand has been increased by migration

Reform the non-EU immigration system so UK firms can access people and skills more easily from around the world, not only the EU

Recognise the strong links between people and trade as the UK forges new economic relationships on the world stage

Replace free movement with an open and controlled immigration system

And finally, the theme that we at Payroll Masters feel is particularly important

Ensure that the transition to any new migration system is done with respect for people and is done in an orderly manner

If you are employing people from abroad we can help you ensure you are compliant with your obligations as an employer and help you with your entire payroll function. Please talk to our team at our head office in Birmingham.

From 1st October HMRC will have its ability to detect offshore tax non-compliance greatly enhanced. This is because the Common Reporting Standard comes into force and the UK, along with more than 100 other countries, will be able to exchange data on financial accounts much more easily.

This works hand in hand with the new Requirement to Correct legislation which is already in force and requires UK tax payers to notify HMRC about any offshore tax liabilities. This will affect people who rent out a property abroad, transfer income and assets from one country to another or rent out a UK property when living abroad. If you are not aware of this you could well find yourself branded an offshore tax evader!

HMRC are saying that it is in tax payers’ interests to correct any non-compliance before the CRS data is received by them. They also say if anyone is unsure, then they should seek the advice of a professional tax adviser. As experts in all things related to payroll we can help. Please contact one of our team at our Birmingham head office.